![]() ![]() ![]() "After March, people started to move away from the big names that just had high valuations to more of the value companies that had real profits," Hershey said. MGM, together with its partner Entain, has performed better than expected, while Penn and DraftKings have been less than impressive. I think the MGM and Caesars shareholder is more sophisticated." "A lot of the people who bought in there were just of the belief that a stock doubles every six months. "I think there was a lot of fast money in those retail stocks," said Will Hershey, CEO of Roundhill Investments, which offers its BETZ, an i Gaming and betting ETF that has about $300 million in assets and is up 60% in the year and a half since its founding. Penn, especially, because of the Barstool angle. Well, first both DraftKings and Penn buys came from a more unsophisticated market, typically among the top stocks bought on Robinhood by a more youthful population. Every Sports Betting Sign-Up Offer in the U.S. ![]()
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